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Added for You - Sales Management - How to Define Your Company's Sales Job - Part 2
The First Rule of CRM for Financial Services
Things have to change. Cross selling is not going to happen simply by installing new CRM technology. A corresponding movement from a transaction mentality to the underlying CRM principle of focusing on the long-term relationship is required. What does this mean for financial services? Stop pushing products and start building relationships.The Consumer's PerspectiveLet's take a look from the consumer's perspective. Financial illiteracy is alive and well, especially with baby boomers. Next, throw in brand confusion—the convergence in financial services has produced new players, company names, and products. Everybody is now playing in everybody else's backyard. Insert the media's fre
ill differ based upon each sales manager's style.Things have to change. Cross selling is not going to happen simply by installing new CRM technology. A corresponding movement from a transaction mentality to the underlying CRM principle of focusing on the long-term relationship is required. What does this mean for financial services? Stop pushing products and start building relationships.The Consumer's PerspectiveLet's take a look from the consumer's perspective. Financial illiteracy is alive and well, especially with baby boomers. Next, throw in brand confusion—the convergence in financial services has produced new players, company names, and products. Everybody is now playing in everybody else's backyard. Insert the media's fre
15. Career Path
- What is the career path for your sales position?
- From small ticket item sales to big ticket item sales?
- From sales to management?
Consider this example: Most small ticket item sales cycles are shorter than big ticket item sales cycles. Per Question #7, the desired amount of Sales Drive differs based upon the frequency of opportunities for presentation and persuasion. A successful salesperson in small ticket item sal
The Whole Point of Entrepreneurship
In my opinion, being an entrepreneur is about ‘writing my own ticket’. I want to to be able to exploit my own ideas, create and sell my own products, and provide my own definition of services.It’s about being a leader; making my own action plan and working it.Looking around the net marketing niche, I see that most people are following instead of leading. Everyone is pushing a business opportunity or affiliate product/service which they do not own.I realize there are people who make millions of dollars in affiliate sales. But if you look closely at how these people promote, you’ll see that they have built a unique presence, a mailing list, and maybe even their own line of pr
Here are seven additional factors to consider as you define the parameters that produce success in your company's sales job. If you are a salesperson, you can also benefit from considering these questions, as they can help you identify target prospects and further refine your sales approach.In my opinion, being an entrepreneur is about ‘writing my own ticket’. I want to to be able to exploit my own ideas, create and sell my own products, and provide my own definition of services.It’s about being a leader; making my own action plan and working it.Looking around the net marketing niche, I see that most people are following instead of leading. Everyone is pushing a business opportunity or affiliate product/service which they do not own.I realize there are people who make millions of dollars in affiliate sales. But if you look closely at how these people promote, you’ll see that they have built a unique presence, a mailing list, and maybe even their own line of pr
9. Administration
- Which sales job functions require attention to detail? (Examples include making accurate forecasts, providing timely updates to the corporate CRM system, analyzing customer records to determine sales strategies, and ensuring regulatory compliance.)
10. Communication
- How important are verbal and written communication skills to sales success in your company?
- Are your salespeople required to make presentations?
- Are they required to compose letters or proposals?
11. Pre-Sales Support
- What support resources are available to help your salespeople manage specific steps of the sales cycle?
- How effective must your salespeople be when managing these resources?
12. Post-Sales Support
- Are your salespeople expected to provide technical or operational support to customers, or do other personnel provide this support?
13. Training
- What kinds of training does your company provide to salespeople?
- How much training does your company provide?
14. Sales Manager's Style
- What are your sales managers' styles?
- Do they lean in the direction of being Field Generals (who prefer selling to coaching) or Administrators (who excel at mentoring and administrative duties)?
15. Career Path
- What is the career path for your sales position?
- From small ticket item sales to big ticket item sales?
- From sales to management?
Consider this example: Most small ticket item sales cycles are shorter than big ticket item sales cycles. Per Question #7, the desired amount of Sales Drive differs based upon the frequency of opportunities for presentation and persuasion. A successful salesperson in small ticket item sale
We Will Make It Back----- A Fictional Story Based on Fact About Sales Management Success
Bill Borders stepped up onto the podium. He had just been introduced as the new Vice President of Sales for Kiechler Building Supplies. As he looked out at the fifty seven faces staring back at him, time seemed to stop and everyone was motionless. Bills mind wandered. This wasn’t a nervous reaction; it was more of a reality check.Bill had already met most of the fifty seven faces that were now looking at him in anticipation of what he might say. In fact, he had individual casual conversation with many of those faces in the audience.Bill had been hired by Tom Thompson, third generation President/owner of Kiechler Building Supplies just five short months ago, but he had already mana
nt of Tolerance for Administration is desirable in your salespeople.Bill Borders stepped up onto the podium. He had just been introduced as the new Vice President of Sales for Kiechler Building Supplies. As he looked out at the fifty seven faces staring back at him, time seemed to stop and everyone was motionless. Bills mind wandered. This wasn’t a nervous reaction; it was more of a reality check.Bill had already met most of the fifty seven faces that were now looking at him in anticipation of what he might say. In fact, he had individual casual conversation with many of those faces in the audience.Bill had been hired by Tom Thompson, third generation President/owner of Kiechler Building Supplies just five short months ago, but he had already mana
10. Communication
- How important are verbal and written communication skills to sales success in your company?
- Are your salespeople required to make presentations?
- Are they required to compose letters or proposals?
11. Pre-Sales Support
- What support resources are available to help your salespeople manage specific steps of the sales cycle?
- How effective must your salespeople be when managing these resources?
12. Post-Sales Support
- Are your salespeople expected to provide technical or operational support to customers, or do other personnel provide this support?
13. Training
- What kinds of training does your company provide to salespeople?
- How much training does your company provide?
14. Sales Manager's Style
- What are your sales managers' styles?
- Do they lean in the direction of being Field Generals (who prefer selling to coaching) or Administrators (who excel at mentoring and administrative duties)?
15. Career Path
- What is the career path for your sales position?
- From small ticket item sales to big ticket item sales?
- From sales to management?
Consider this example: Most small ticket item sales cycles are shorter than big ticket item sales cycles. Per Question #7, the desired amount of Sales Drive differs based upon the frequency of opportunities for presentation and persuasion. A successful salesperson in small ticket item sal
4 Ways to Automate Tasks in Microsoft CRM Using Workflow
Are you sick of entering data into Microsoft CRM manually? How about dealing with inconsistent data that makes reporting difficult and time-consuming? Whether you are a business user or IT user, you are guaranteed to appreciate the power and flexibility of workflow within Microsoft Dynamics CRM 3.0. Here are four easy ways to use workflow to automate tasks that support sales and customer service. By the end of this article, you will be able to automate your processes using Microsoft CRM and workflow.1. Assign New Leads to the Appropriate Person or QueueIf you have multiple sales people to whom are assigned leads meeting specific criteria, then this is a handy way
le have access to quality internal (employed by your company) or external (employed by suppliers or partners) technical resources, they don't need to invest a lot of time learning technical details. This frees them to focus more time and energy on prospecting and opportunity qualification. By the same token, if your company employs technical writers who can assist salespeople with large proposals and bid responses, there may be less need for your salespeople to have strong Communication Skills.Are you sick of entering data into Microsoft CRM manually? How about dealing with inconsistent data that makes reporting difficult and time-consuming? Whether you are a business user or IT user, you are guaranteed to appreciate the power and flexibility of workflow within Microsoft Dynamics CRM 3.0. Here are four easy ways to use workflow to automate tasks that support sales and customer service. By the end of this article, you will be able to automate your processes using Microsoft CRM and workflow.1. Assign New Leads to the Appropriate Person or QueueIf you have multiple sales people to whom are assigned leads meeting specific criteria, then this is a handy way
12. Post-Sales Support
- Are your salespeople expected to provide technical or operational support to customers, or do other personnel provide this support?
13. Training
- What kinds of training does your company provide to salespeople?
- How much training does your company provide?
14. Sales Manager's Style
- What are your sales managers' styles?
- Do they lean in the direction of being Field Generals (who prefer selling to coaching) or Administrators (who excel at mentoring and administrative duties)?
15. Career Path
- What is the career path for your sales position?
- From small ticket item sales to big ticket item sales?
- From sales to management?
Consider this example: Most small ticket item sales cycles are shorter than big ticket item sales cycles. Per Question #7, the desired amount of Sales Drive differs based upon the frequency of opportunities for presentation and persuasion. A successful salesperson in small ticket item sal
Equal Pay in the UK - Why are Women Paid Less than Men?
Low salary compensation - know your rights to equal pay compensationIt is an unfortunate fact that there is an ever present gap between the salaries paid to men compared to women in the UK. Despite long standing legislation in the form of the Equal Pay Act 1970, many employers and Unions have been slow to embrace the ethos and level the playing field.In the UK the gulf in wages is thought to be around 18-20% which means that a woman might expect to earn on average 80-82p for every ?1 earned by a fellow male worker.This disparity may be fully justified in some instances however in many cases it is simply a legacy of poor and unequal managerial practices. To illustrate the ga
your company provide to salespeople?Low salary compensation - know your rights to equal pay compensationIt is an unfortunate fact that there is an ever present gap between the salaries paid to men compared to women in the UK. Despite long standing legislation in the form of the Equal Pay Act 1970, many employers and Unions have been slow to embrace the ethos and level the playing field.In the UK the gulf in wages is thought to be around 18-20% which means that a woman might expect to earn on average 80-82p for every ?1 earned by a fellow male worker.This disparity may be fully justified in some instances however in many cases it is simply a legacy of poor and unequal managerial practices. To illustrate the ga
14. Sales Manager's Style
- What are your sales managers' styles?
- Do they lean in the direction of being Field Generals (who prefer selling to coaching) or Administrators (who excel at mentoring and administrative duties)?
15. Career Path
- What is the career path for your sales position?
- From small ticket item sales to big ticket item sales?
- From sales to management?
Consider this example: Most small ticket item sales cycles are shorter than big ticket item sales cycles. Per Question #7, the desired amount of Sales Drive differs based upon the frequency of opportunities for presentation and persuasion. A successful salesperson in small ticket item sal
Business Card CD Duplications
One of the most important principles in business is branding. This is because it plays a big role in creating product awareness and creating more business for companies. Given this, companies make it a point to come up with logos and produce collateral material such as letterheads, envelopes and business cards that project a professional brand or image. Recent developments such as the dawn of e-commerce has also made it possible for companies to project and promote their brand using tools such as the Internet. Companies come up with web sites and use e-mail for various business purposes. This has spawned more uses for electronic media, which, in turn, have aided companies in their advertising a
ill differ based upon each sales manager's style.One of the most important principles in business is branding. This is because it plays a big role in creating product awareness and creating more business for companies. Given this, companies make it a point to come up with logos and produce collateral material such as letterheads, envelopes and business cards that project a professional brand or image. Recent developments such as the dawn of e-commerce has also made it possible for companies to project and promote their brand using tools such as the Internet. Companies come up with web sites and use e-mail for various business purposes. This has spawned more uses for electronic media, which, in turn, have aided companies in their advertising a
15. Career Path
- What is the career path for your sales position?
- From small ticket item sales to big ticket item sales?
- From sales to management?
Consider this example: Most small ticket item sales cycles are shorter than big ticket item sales cycles. Per Question #7, the desired amount of Sales Drive differs based upon the frequency of opportunities for presentation and persuasion. A successful salesperson in small ticket item sales is likely to have a strong Sales Drive. Will they become frustrated by the reduction in opportunities to present and persuade that could result from a "promotion" to big ticket item sales?
Similarly, the attributes required to be an effective manager are often quite different from the attributes required to be an effective salesperson. Success in management can require more attention to detail and the willingness to delegate and mentor. These requirements impact the target ranges for the attributes of Sales Drive, Service Drive, Assertiveness, Competitiveness, Independence and Tolerance for Administration.
If you keep the fifteen questions discussed in this two-part article in mind, you will be able to more accurately define the parameters that will lead to success in YOUR company's sales job(s).
Copyright 2005 -- Alan Rigg
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